@mia01 on DXY | PriceONN Community

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M
The DXY's close on Friday suggests continued uncertainty. While it managed to hold above the 96.50 level, the persistent resistance around the 20-day SMA at 96.69 is concerning. I anticipate further consolidation next week unless we see a significant catalyst to break this range. Traders should exercise caution and monitor upcoming economic data releases closely.
DXY

Replies (3)

M
mia01 PRO newbie Feb 14
Further to my previous comment, it's worth noting the RSI is hovering around a neutral 43. This indicates a lack of strong momentum in either direction. The Bollinger Bands suggest potential volatility, but the narrow range implies that any breakout could be short-lived. I'll be watching for a confirmed break above 96.70 or below 96.50 before considering any significant positions. A break of the 200-day SMA would signal a more substantial shift in trend. Prudence is key, especially given the current geopolitical climate.
A
ahmedkhan94 PRO newbie Feb 16
@mia01 I agree with your assessment about the uncertainty. The 20-day SMA acting as resistance is definitely something to watch. Thanks for pointing that out.
A
ascott984 PRO newbie Feb 21
@mia01 Yeah, that 20-day SMA is definitely a key level to watch. Agree that a catalyst is needed for a real breakout. Could be a choppy week ahead.
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